Bitcoin - Can it boost or break a countries economy?

[Qartersa]

Bitcoins are just a store of value. It is similar to fiat in a lot of ways as it is a form of payment. The only thing it does is that it facilitates the transfer of wealth in trade in economies. If the economy finds bitcoins to be something useful  then it has the option to keep using it and replace conventional fiat or if burdensome they can remove it and revert back to fiat.

[Betheng10]

Bitcoin is not recognized by some countries not because they pose a threat to banks but rather to the countries and citizens security. As we all know anonymity is a criminal's bestfriend.

We can't deny the possible help of crypto's for the economy but some countries see the threat for security as a bigger problem.

[Dancobit]

For a country I think it has not gotten there, because a lot of consideration should be considered about this bitcoin as the price fluctuates when the price drops drastically should gimanq, if it goes up, I think ga need to be explained .. so bitcoin is more suitable for use by individuals and companies. , but yes it can also by the state just to attract taxes ..

[Bonsaiav]

Bitcoin's very likely to destroy the economy of a country, when calculated from the total supply of total bitcoin is 21.000.000 pieces. With the amount of bitcoin that bitcoin's so easy for bitcoin to destroy the country's economy.

[Camorra Dev]

Governments should afraid to introduce bitcoin because of volatility of its prices. It'd be very inconvenient to use. And in really poor countries it's unrealy to calculate digital currency

[pallang]

Bitcoin can really help in boosting economy of a country because this is a way people can earn for their living but some countries don't recognize Bitcoin because they are afraid of what will be the effect in their economy because of it's volatility it's price is not stable and some banks are also of it's existence.

[krampus854]

Of course it boost.But, it will depends on the people of that economy if they are not ready to accept bitcoin and the other cryptocurrencies well it will not good in that community but if they were ready to accept bitcoin it will be a big change for them.

[Finestream]

Bitcoin can really help in boosting economy of a country because this is a way people can earn for their living but some countries don't recognize Bitcoin because they are afraid of what will be the effect in their economy because of it's volatility it's price is not stable and some banks are also of it's existence.

Yes.Bitcoin for sure can help to boost a country's economy through giving the people a decent source of income wherein the government has failed to do it for them.They can make huge profit in bitcoin that will eventually change their lives for the better.And in terms of money transactions,it will give more convenience to the users or consumers to bitcoin.

[reactgirolles6]

Btcs are too much feared due to the fact that it has the capability to design its own broad based platform without any other support.

[maitexisi]

The known and limited supply of bitcoins means that it is not destined to become an effective alternative currency. In addition, bitcoin does not have the obvious use value, so the currency will be completely wiped out. But the flaw in bitcoin is the result of the currency's execution, not its own.

[laravuemaster]

Most countries are in full control of their own monetary policies and financial systems. If a alternative currency is introduced, would this improve or reduce the efficiency of a country?

Will this remove their control or would it be just another payment option, like PayPal?

Why are governments so scared of Bitcoin, if they can regulate it's use. The first defensive tool seem to be banning the technology, which in my opinion should be the last resort. Should they not analyse the threat based on proper research and public participation. < like they did in Canada > and then make harsh decisions like this?

Why are they ignoring the advantages that this technology might bring and implement extreme precautions as a primary action?

Is Bitcoin really such a big threat to them or are they just misinformed on purpose? < influenced externally by people with hidden agendas >

Let's discuss this please.

actually it can break the countries economy if government cannot handle the growth so the best thing that the government can do is also use cryptocurrency or create their own mining hardwares.

[Jessica2009]

           According to my opinion Bitcoin can boost the economy of a country . If in a case people without employment how can they boost the countries economy here Bitcoin helps to pay taxes of that person without panic and this will decrease the unemployment  and increases the countries economy. Those countries who have banned Bitcoin can break the countries economy this is due to the unawareness about Bitcoin those developed countries who have embraced Bitcoin enjoys the economic growth of their country.

[Sled]

           According to my opinion Bitcoin can boost the economy of a country . If in a case people without employment how can they boost the countries economy here Bitcoin helps to pay taxes of that person without panic and this will decrease the unemployment  and increases the countries economy. Those countries who have banned Bitcoin can break the countries economy this is due to the unawareness about Bitcoin those developed countries who have embraced Bitcoin enjoys the economic growth of their country.

Bitcoin only brings hope for the countries and not destruction and that is why i love having bitcoin as my primary source of income and not the regular job and if the other people doesn't have job will work in bitcoin then they can earn a lot of money and like you said, it will boost the economy of the countries because the sales and the overall money or income of country will have a boost.

[Camorra Dev]

No wonder that a government doesn't really benefit from bitcoin and altcoins, why would they want a currency that they cant totally control?

[michellee]

I only know that bitcoin can boost people economy because they can earn money from bitcoin but for boost a countries economy, I don't think so because the government still not use bitcoin as a new source to grow their economy and they still learning about bitcoin. but for the people, they can start from now and they can make money from bitcoin. many people were helped by bitcoin and I think they can solve their financial problem and now they can have their own money by doing many tasks related with cryptocurrency.

[0t3p0t]

Most countries are in full control of their own monetary policies and financial systems. If a alternative currency is introduced, would this improve or reduce the efficiency of a country?

Will this remove their control or would it be just another payment option, like PayPal?

Why are governments so scared of Bitcoin, if they can regulate it's use. The first defensive tool seem to be banning the technology, which in my opinion should be the last resort. Should they not analyse the threat based on proper research and public participation. < like they did in Canada > and then make harsh decisions like this?

Why are they ignoring the advantages that this technology might bring and implement extreme precautions as a primary action?

Is Bitcoin really such a big threat to them or are they just misinformed on purpose? < influenced externally by people with hidden agendas >

Let's discuss this please.

It will probably help boost the economy of a particular country that accepts and adopt Bitcoin as another form of currency and investment. Cryptocurrency related businesses will emerge and it will also bring convenience to both the economy and the people itself. Nowadays where crypto is on trend people will start to get in and will add to the increasing community which means positive  towards using Bitcoin either in buying and seling of goods. Local exchanges are regulated that is why and where we taxed in every convertion to fiat money and that will help the country improve.

[Froloff92]

I think the two situations could both happen. It can either make a country do so much progress while it could also create an effect to the economy of another country.

[Muspion]

Now it's too high and it's getting harder to make money. And bitcoin can not affect the economy of the country in any way, because it is only currency

[eelectrick]

I think as long as it helps people procure profit and money from either investing or
earning in such, It would help boost and improve the economy. Most especially
third world countries, I think it's going to reflect a lot faster and clearer on Bitcoin's
impact on their designated economies and markets.

[Kelvinid]

I only know that bitcoin can boost people economy because they can earn money from bitcoin but for boost a countries economy, I don't think so because the government still not use bitcoin as a new source to grow their economy and they still learning about bitcoin. but for the people, they can start from now and they can make money from bitcoin. many people were helped by bitcoin and I think they can solve their financial problem and now they can have their own money by doing many tasks related with cryptocurrency.

I agree.Bitcoin have been giving significant proofs to people particularly in their financial aspects.They can make a good source of income with the presence of bitcoin.With this,i believe that this will lead to a more positive results if all of the people in a certain country will come to use and invest in bitcoin that will totally help in boosting their country's economy.